QED Quadrise Plc

TIDMQFI

RNS Number : 7229Y

Quadrise Fuels International PLC

03 December 2014

3 December 2014

Quadrise Fuels International Plc

("QFI", "Quadrise" or the "Company")

Directors Interests and Holdings in Company

Quadrise, the emerging supplier of MSAR, a low cost alternative to heavy fuel oil in the shipping, refining and power generation markets, announces that it was informed today of changes to the beneficial interests held directly and indirectly in the Company by two of Quadrise's directors, Mr Ian Williams and Mr Hemant Thanawala.

These changes to QFI Directors' interests follow the substantial disposal by International Energy Group AG ("IEGAG") of its remaining shareholding in QFI to its own shareholders, as announced by the Company earlier today (the "Transaction").

The resultant changes are as detailed below:

                                                                              Before the Transaction           After the Transaction 

Ian Williams:

Direct interest 9,396,580 9,396,580

Indirect beneficial interest 2,219,524 20,693,564

Total 11,616,104 30,090,144

Entities owned by Tile House Trust, of which Mr Williams is a beneficiary, acquired 18,474,040 QFI shares from IEGAG on 3 December 2014 at a price of GBP 0.2575 pence per share (equal to the closing mid-market price per QFI share on 2 December 2014). Following this transaction Ian Williams has an interest in 3.72% of QFI's issued ordinary share capital.

                                                                    Before the Transaction                   After the Transaction 

Hemant Thanawala:

Direct interest 7,863,400 7,863,400

Indirect beneficial interest - 20,347,153

Total 7,863,400 28,210,553

Lucrone Investments GmbH, in which Mr Thanawala has a beneficial interest, acquired 20,347,153 QFI shares from IEGAG on 3 December 2014 at a price of GBP 0.2575 pence per share (equal to the closing price per QFI share on 2 December 2014). Following this transaction Mr Thanawala has an interest in 3.49% of QFI's issued ordinary share capital.

For further information, please refer to the Company's website at www.quadrisefuels.com or contact:

 
Quadrise Fuels International Plc 
Ian Williams, Executive Chairman               +44 (0)20 7031 7321 
Hemant Thanawala, Finance Director 
Jason Miles, Chief Operating Officer 
 
 
 
  Nominated Adviser 
Smith & Williamson Corporate Finance Limited 
Dr Azhic Basirov                               +44 (0)20 7131 4000 
Ben Jeynes 
 
 
 Broker 
Peel Hunt LLP 
Richard Crichton                               +44 (0)20 7418 8900 
Matthew Armitt 
Ross Allister 
Alistair Rae 
 
 
 Public & Investor Relations 
Pelham Bell Pottinger 
Philip Dennis                                  +44 (0)20 7861 3232 
Rollo Crichton-Stuart 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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